Rio Rancho is a rural suburb north of Albuquerque with gorgeous views of the Sandia Mountains. The 2019 population was 99,178, with residents over 60 accounting for 24% of the community. The overall cost of living is 92.5 compared to the U.S. at 100, making it an alternative to living in Albuquerque, a much more urban and crowded city. New Mexico taxes all retirement income, including social security but offers a tax-friendly deduction to seniors with income below a specific amount. While the sales tax is high for Rio Rancho at 7.83%, tax exemptions on food and prescriptions can help seniors reduce their overall sales tax expenses.
Seniors who need help with daily living needs may wish to reside in assisted living communities. Nursing homes provide more extensive medical care active seniors may not require. The average monthly cost of assisted living in Rio Rancho is $4,050, the same as New Mexico and lower than the national average of $4,300.
This guide for assisted living in Rio Rancho includes the average monthly costs and the advantages and disadvantages of retiring in Rio Rancho. The end contains a listing of the area’s free resources for seniors.